So Now You're a Fiduciary: Tax, Accounting, and Practical Advice
Date: Wednesday, October 7, 2026
Instructor: Klaralee R. Charlton
| Begin Time: |
9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
|
NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Being named a fiduciary—whether as a personal representative, executor, or trustee—comes with legal, tax, and administrative responsibilities that many individuals are unprepared to handle. Mistakes can lead to personal liability, beneficiary disputes, and compliance failures. This practical, beginner‑friendly course provides a comprehensive roadmap for navigating fiduciary responsibilities with confidence and professionalism.
Participants will receive clear, actionable guidance on fiduciary duties, estate and trust tax compliance, and essential accounting practices. The course covers preparation and filing of Forms 706 and 1041, recordkeeping and inventory requirements, and the preparation of beneficiary accountings. Real‑world examples address common challenges fiduciaries face, including managing distributions, communicating with beneficiaries, handling investments, and reducing personal liability. By blending technical instruction with practical advice, this course equips fiduciaries and advisors with the tools needed to administer estates and trusts accurately, efficiently, and defensibly.
Who Should Attend
This course is designed for individuals and professionals who are serving as fiduciaries—or advising those who do.
Topics Covered
- Fundamental fiduciary duties and standards of care
- Overview of estate and trust tax compliance
- Preparing Forms 706 and 1041
- Fiduciary accounting basics, recordkeeping, and inventories
- Preparing beneficiary accountings and reports
- Managing distributions, investments, and estate expenses
- Common fiduciary mistakes and liability risk management
Learning Objectives
- Identify the legal duties and responsibilities of fiduciaries in estate and trust administration
- Prepare and comply with estate and trust tax filing requirements, including Forms 706 and 1041
- Apply basic fiduciary accounting principles to maintain records, inventories, and beneficiary reports
- Evaluate common administrative challenges faced by fiduciaries and implement effective solutions
- Develop strategies to minimize fiduciary liability and manage conflicts among beneficiaries
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
